The China Investment Corporation has recognised Hong Kong’s international position by establishing a wholly-owned subsidiary, Hong Kong-CIC International (Hong Kong) Co., Limited.

The sovereign wealth fund said it would fully utilise Hong Kong’s position as an international financial centre as well as its world-class investment and financial services to develop and expand CIC’s investment activities outside the mainland. Professor Lawrence J. Lau, a former member of the International Advisory Council of CIC, will be the chairman of CIC International (Hong Kong) Co.